5 ways to get a fast cash advance and pay down debt
In 2020, many people have been hit hard by the coronavirus. Businesses have shut down, people have had to take pay cuts, and some have simply been just laid off.
This has caused some to default on their loans and other debts that they have. They have been using things like payday loans and cash advances to pay down their debts.
You may have hit some rough times as well, due to everything that has been going on. But if you are looking to get a fast cash advance, here some ways you can make that happen quickly.
1. An Actual Cash Advance
What is a fast cash advance anyway? It is a short-term loan that is unsecured. You can use it to cover things like bills, fees, and/or fines without credit.
However, there is a limit to how much can be borrowed, and they often come with high fees/interest on loans.
2. Payday Loan
If you’re not interested in a cash advance, you can get a payday loan. They are short-term loans for people who have sources of income and bank accounts. They can be repaid in a lump sum instead of installments.
The problem with these though is that they come with high-interest rates. Normally this means the ratio is around $15 of interest for every $100 owed.
The borrower (you) can opt to pay fees instead of the balance. This can build up over time.
However, you may want to consider a structured settlement for these.
3. Drive for Lyft or Uber
If you’re not looking to do any more loans, you can go back to conventional means. Driving for Uber or Lyft gives you the freedom of flexible hours, comfortability of your car, and easy setup.
There are some requirements you have to fulfill to be considered as a driver for these companies. So be sure to be familiar with these before you sign up.
4. Pawn Something
We always have something laying around the house that we don’t need, whether it be that antique lamp you inherited or that golf set you keep saying you’ll use but never do.
Pawning them or selling them online could make you a good bit of cash if you are persistent enough. It may not be enough to carry everything, but it is something.
5. Walk Dogs
Moonlighting as a local dog walker can make you quite a bit of money. You’d be surprised at how many people would pay, even in this COVID climate, to have their dogs taken outside.
It’s also not a cure-all alternative, but it can be both a minor monetary supplement and a great networking front.
Get That Fast Cash Advance
No matter what you decide to pay down your debt, be sure you choose the best way to do this for your situation. Everyone’s is different.
If you need that fast cash advance, get creative. Your debt is certainly not going anywhere.
For other great articles like this one, be sure to browse the rest of our blog.